What is the future value (FV)of $10 000 in eight years, assuming the interest rate is 10% per year?
A)$16 212.78
B)$18 756.22
C)$21 435.89
D)$18 000.00

Question

Quizplus · Accepted Answer

Using the formula for future value: FV = PV * (1 + r)^n
Where:
PV = $10,000 (present value)
r = 10% (interest rate per year)
n = 8 (number of years)

FV = $10,000 * (1 + 0.1)^8 = $21,435.89

Therefore, the best choice is C.

What Is the Future Value (FV)of $10 000 in Eight